Every weekday, the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. U.S. stocks rose on Monday as the Nasdaq and S&P 500 attempted to recover from back-to-back weekly losses. Major gains were seen in technology stocks as the new week began. Nvidia shares rose as the company kicked off its GTC developer conference and investors await CEO Jensen Huang's keynote speech. Apple and Alphabet gained ground after media reports indicated that Google could help drive future artificial intelligence features on the iPhone. Jim Cramer said this partnership would be positive for both companies. “It's one of those weeks where a lot of people would focus on the Fed, but instead it's a tech lollapalooza situation,” he added. On Monday, the Club cut 30 shares from our position in MetaPlataformas. The stock's outperformance in 2023 and 2024 had increased its portfolio weighting to about 5%. “Meta has been a big winner,” Jim said. “It's so good we had to adjust the position size.” To be sure, the exchange was not an event that changed the thesis. Our discipline dictates a small cut to the mega-cap name. We remain optimistic about Facebook's parent company, given its strong fundamentals and long-term growth prospects. Shares of Abbott Laboratories fell modestly on Monday following Friday's nearly 3% selloff. Abbott shares hit a one-month low after an Illinois judge ordered rival company Reckitt Benckiser to pay $60 million to a mother whose premature baby died of an intestinal disease known as NEC after using the formula. for Enfamil babies. JPMorgan analysts said there is currently no scientific data showing that Abbott's Similac infant formula causes NEC. There are hundreds of lawsuits pending against Reckitt and Abbott. Based on available information, Jim said Monday that there is “no real risk” for Abbott and that the stock sale can still be bought. The Club joined Abbott on Friday's weakness. (Jim Cramer's Charitable Trust is long AAPL, GOOGL, META, NVDA, ABT. See here for a full list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable fund's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY VIRTUE OF THE RECEIPT OF ANY INFORMATION PROVIDED IN RELATION TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR BENEFITS ARE GUARANTEED.
